Category Archives: Economics

Inescapable philosophy?

(featured image credit: Thor Edvardsen) Do we need philosophy to fully understand and explain our behaviour? (I am going to make a quick assumption here about your honesty.) How come you never engage in something like shoplifting? Surely doing so is … Continue reading

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Is it our business?

(Image credit: stevepb) Sometimes characteristics of products or services, or of those who sell them, immaterial as they are, can greatly influence our willingness to pay. Should they be any of our business? 500 years ago, on 31 October 1517, Martin … Continue reading

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Comparing minds

(featured image: qimono) A relativity principle possibly even more fundamental than Albert Einstein’s A little while ago I sat working with the radio tuned to a show in which the hostess quizzes a celebrity for a couple of hours on … Continue reading

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Context counts

In our search for universal truths we should bear in mind the importance of the context Nobel prizes don’t typically cause much commotion outside their respective scientific domains. Occasionally though, something about the award resonates more widely, perhaps because some … Continue reading

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Selling your soul

(featured image: wikimedia) The trade-offs we don’t want to make (but believe others should) Not much is known with any certainty about Johann Georg Faust. Wikipedia describes him as an alchemist, astrologer and magician, who was born in either 1466 … Continue reading

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Noisy people

(featured image: Mysid/Wikimedia) Our decision-making is biased, but an even bigger limitation is that it is noisy. So what? The loudest and longest standing criticism of neoclassical economics is that it assumes us meatbags are rational, self-interested, utility maximizing individuals, … Continue reading

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A token of appreciation

(featured image credit: Crishna Simmons) About the remarkably behavioural approach supermarkets have taken to buff up their image and engage their customers in the process Companies are learning that being seen to ‘do the right thing’ is good for their brand … Continue reading

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